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checked out you were all friends again ,” says Mike Cavanaugh , managing partner at Regiment Alpha , and former trader at the Chicago Board of Trade ( CBOT ). “ You would be like - hey man , how ' s it going you good ? I ' ll see you on the floor in 10 minutes ! I ' m going to go get some breakfast . You need some coffee ?... Then you get in the pit and you ’ re saying ' I ' m gonna rip your throat out !'"
Up until the COVID-19 pandemic , the Chicago open outcry trading pits were packed with animated traders and brokers wearing brightly coloured jackets , a chaotic sea of people pushing and shoving . The open outcry system offered a face-to-face auction system , matching buyers and sellers in deals through verbal communication and hand signals . It was established so traders were
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